Former President Donald Trump reacted to a Department of Labor (DOL) report that inflation had climbed 9.1% in a press release Wednesday.
“Inflation just hit ANOTHER 40-year high of 9.1%, which is terrible for our Country,” Trump said. (RELATED: Brian Deese Calls For More Gov’t Spending As Inflation Hits 40-Year High)
Inflation has hit its highest level since December 1981, breaking economists’ predictions that it would only increase 8.8%, according to a Wednesday report.
“Fuel prices up 60%, Airfare up 34%, Eggs up 33% — how can people survive this? How can businesses survive this?” Trump said.
Trump on the latest CRUSHING inflation number:
“How can people survive this? How can businesses survive this?” pic.twitter.com/TFMiiNlRNv
— Townhall.com (@townhallcom) July 13, 2022
The former president said the country was “weak” because of the Democrats and encouraged Americans to vote Republican.
“America will not allow this to go on for much longer,” Trump continued.
President Joe Biden has pushed back on the DOL report, calling it “out-of-date.” The president did say the number was “unacceptably high.”
Biden’s economic adviser Brian Deese called the report “backward looking” and demanded more government spending in response during a CNBC appearance Wednesday.
An economist at the Heritage Foundation told the Daily Caller News Foundation that Americans have lost $3,400 in annual income since Biden took office.